Russian experts propose introduction of simplified taxation system for Cuba
The effective taxation system in Cuba is unsuitable so far for the planned transition to private competition development, Executive Director of the Institute Anton Sviridenko said
MOSCOW, August 25. /TASS/. Russian experts offered introduction of an analog of the simplified taxation system effective in the country to the government of Cuba, the press service of the Russian business ombudsman Boris Titov told TASS.
Experts from the Stolypin Institute of Economy of Growth sent proposals for changing the fiscal system of Cuba to Prime Minister Ricardo Cabrisas. The effective taxation system in Cuba is unsuitable so far for the planned transition to private competition development, Executive Director of the Institute Anton Sviridenko said.
"The income tax for small and medium enterprises stands at 35% and the overall fiscal burden is over 50%. We suggested setting the income tax at the level of 15%, the sales tax of 10%, and the tax on dividends at the level corresponding to the individual income tax for companies using the general taxation system. From our point of view, an analog of the Russian simplified taxation system is need with the rate of 4-8% from revenues (depending on the activity or the region) or 8-15% from the difference between incomes and expenses," Sviridenko noted. "Self-employed individuals may buy patents (the patent price will be determined by municipal authorities but not above the ceiling set by the government," he added.